This course focuses on increasing students’ abilities to analyze and apply concepts and techniques grounded in Generally Accepted Accounting Principles for economic decision-making. Students will investigate a wide range of related topics including:
- Accounting standards and the conceptual framework
- Accounting information systems
- Income statement
- Balance sheet and statement of cash flows
- Time value of money
- Cash and receivables
- Property, plant and equipment
Course Learning Objectives
- Determine the appropriateness of journal entries based on generally accepted accounting principles.
- Describe the Accounting Information system.
- Prepare an income statement.
- Prepare a balance sheet and statement of cash flows.
- Apply present and future value calculations for single and annuity payments/receipts relative to financial statement and report preparation.
- Apply internal control concepts and techniques in measuring and analyzing cash, receivables, and related accounts.
- Apply various inventory measurement methods and inventory reporting issues.
- Analyze asset measurement stages (e.g., acquisition, allocation, disposition) relative to their impact on financial information and decision-making.
To complete assignments in this course, students must have access to Microsoft Office including Word and Excel.